Disability insurance is an extremely important but quite complex issue. Here are some important questions you may wish to ask about disability income:

Disability Insurance

What if i can't work?

The most important coverage after health insurance to ensure your financial protection is disability insurance. While you are in your working years, your most valuable asset is your ability to earn a living. During the time you are unable to work due to a qualifying disability (illness or injury), the replacement of your regular income through the monthly benefit provided by disability insurance helps to maintain your pre-disability lifestyle. Workplaces often provide both short-term disability (STD) and long-term disability (LTD) insurance. Individual disability income insurance can be customized to meet your needs and considers your occupation, age, income and other factors in determining your cost and monthly benefit payment amount.

What percentage of my regular income will I receive and is my disability income taxable?

When will my disability income begin and when will it end?

Will my disability income coverage through my workplace be enough to maintain my standard of living?

What are the differences between short-term disability and long-term disability coverages?

Should I purchase individual disability coverage to "wrap around" the disability coverage through my workplace?

Can I purchase individual disability coverage even if I do not have any coverage through my workplace?

What is a qualifying disability?

Will I receive disability income if I am partially disabled?

Does my disability income increase over time to keep pace with rises in the cost of living?

By now you may have thought of other questions of your own to ask. To get those answers or to learn more about disability income insurance coverage for your workplace or as an individual, please contact an Eichberg Associate to consult with one of our disability coverage experts.